Starting an LLC with a partner. I will be making an initial capital contribution to the LLC to fund our first asset purchases, reserves, etc. We have agreed that the loan will generate a 5% interest rate, and my partner will have the sole discretion about when payments on the loan will be made, i.e. when the interest on that loan became more of a liability than the continued use of capital was an asset, he could choose to sacrifice the cash flow to pay off the debt. Is there a way to set this up in a spreadsheet or are there companies that will set this kind of thing up for you? I'm not wanting to have to take interest payments initially. Hoping one of you will have some good suggestions! Thank you!
Yes there is. You just need to use a variety of formulas in cells linked together and it should run itself outside of punching in numbers. If your not sure how to do it, then I would recommend hiring someone cheap to build the spreadsheet for you.
Thanks @Colin Smith . I'll hunt around on the internet and see if I can find a tutorial on building that. I do a lot of excel and google sheet formulas, but I haven't been able to get my brain around how to do it in this case. Appreciate your input.
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